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Pre Buy recommendation North Carolina

Shrobby

By Shrobby
in General Mooney Talk

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75_M20F Rising Star

75_M20F

Posted
Posted (edited)

Causey Aviation - They are close. Chris is the lead mechanic there. Give them a call. Nice folks. Operation is based at 2A5 airport which is in Liberty NC. They are a former Mooney shop. I have used them for annuals and two avionics upgrades now. They have their own Mooney M20F as a company plane / vehicle. (I live near GSO)

Address: 6120 Smithwood Rd, Liberty, NC 27298
Phone:(336) 685-4423
 
To expand upon the prebuy idea: What you really should consider doing is getting a full annual done on the plane instead of a "prebuy". You agree to buy the plane and pay the BASE price for the annual. The owner agrees to pay for any unairworthy items found. Now you have something that will help insure your not buying a disaster. The mechanic has no skin in the game with a prebuy and a prebuy is just minimal inspection at best, most prebuys are just checks for AD compliance and a compression check. Get the full annual done and the mechanic has to sign your logbook stating the plane is airworthy. And use a different shop/mechanic then the owner has been using. Will it cost a little more money? Sure, but it may save you from a nightmare too. 
Example: A prebuy is not going to catch corrosion of the tubular cage or some obscure spar corrosion or any number of things, but an annual will.
 
 
 
 

 

Edited by Mooney_Mike
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ArtVandelay Grand Master

ArtVandelay

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A prebuy can be anything you want, you don't need to do a full annual inspection.

Remove only panels necessary to check for corrosion.

Skip compression checks, do a borescope instead.

Fill fuel tanks and let plane sit overnight and check for leaks.

A good preflight and flight test to test autopilot, avionics would cover many annual items.

Oil change.

Of course if the annual is soon to be required, then you can convert a prebuy to an annual.

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Amelia Experienced

Amelia

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 I am very pleased with John Sanders, the mechanic in Elizabeth City, NC. He is thorough and very pleasant, his shop is clean, he welcomes owner-assistance. He found a number of issues with my 231, but they were going to have to get fixed eventually anyway. He did tell me this needs done now, that needs done at the next annual, and the other is purely up to you. I like that, and his clear explanations. A natural teacher. One of the few who doesn't whine about Mooneys, and has the book open as he goes through things.

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DonMuncy Grand Master

DonMuncy

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There are two schools of thought.

1. It is always cheaper to let the previous owner pay for things (maintenance and upgrades) and you buy them at a discount.

2.Sometimes you don't have the money to get everything you want right now, but if you can dribble it out over the next few years, you can end up with more stuff.

If you can afford it, go with number 1

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Shrobby Explorer

Shrobby

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There are two schools of thought.

1. It is always cheaper to let the previous owner pay for things (maintenance and upgrades) and you buy them at a discount.

2.Sometimes you don't have the money to get everything you want right now, but if you can dribble it out over the next few years, you can end up with more stuff.

If you can afford it, go with number 1

Thanks Don

Sent from my SM-T230NU using Tapatalk

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carusoam Grand Master

carusoam

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MAPA has been a good resource for that kind of data.

the data was supplied by AAA's Jimmy and David.

How they put the data together, Applied Statistics vs. Experience or a combination of both?

This is a bit better than BBV for a plane, because it is specific to Mooneys and adjusted for near current market.  Actual sales data always trails your current need.  Essentially, it is imperfect data, but it is as good as it gets.

Best regards,

-a-

 

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DonMuncy Grand Master

DonMuncy

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The newest issue of Aviation Consumer has an article that echoes my thought, that there is no worthwhile blue book price for airplanes. The absolute best source is Jimmy Garrison and David McGee at All American near San Antonio. However they don't "publish" their evaluations. If you shop with them, they can (and do) evaluate the planes they have or are brokering.   Full disclosure: I bought my plane form them 15 years ago and would do it again without hesitation. I now consider both of them friends.

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carusoam Grand Master

carusoam

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Great reason to go visit in person!

Check the available inventory with David/Jimmy before going.  They post some really good data regarding their inventory.  You just don't want to be surprised.  Some used inventory may actually sell prior to your arrival.

I bought the O there. Everything was as described.  Proved through the PPI at Don's.  Other needed fixes taken care of at NJ's MSC. Etc. etc.

Best regards,

-a-

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Bravoman Mentor

Bravoman

Posted
Posted
 

The newest issue of Aviation Consumer has an article that echoes my thought, that there is no worthwhile blue book price for airplanes. The absolute best source is Jimmy Garrison and David McGee at All American near San Antonio. However they don't "publish" their evaluations. If you shop with them, they can (and do) evaluate the planes they have or are brokering.   Full disclosure: I bought my plane form them 15 years ago and would do it again without hesitation. I now consider both of them friends.

I understand that they are great guys and are super knowledgeable on mooneys but I wouldn't ever think that someone who had a dog in the fight didn't have some bias in their own favor.

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carusoam Grand Master

carusoam

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I also recognize that Bravoman.

As with Blue Book values there are retail prices verses wholesale prices.  Negotiation is still part of the equation.

Competition between buyers is more significant on the price of a plane.

Competition between sellers is the best thing for the price of planes. (Buyer's point of view)

Watch the thread for the guy looking to buy a 2008 Ovation.  

There aren't ten thousand of these planes ever built, never mind available for sale, today. There were two available and at least one didn't meet expectations.  What happens to price elasticity in this case?

For a Blue Book value to be generated.  Lots of actual sales data would need to be made available.  Does somebody have the ability to collect actual sales data for private planes on the used market?

How does Shrobby intend to use this blue book data if it really existed?

I found the data that was printed by MAPA helped identify the type of Mooney I could afford and the amount of Money lost by installing new electronic devices.

It is clearly a tool produced and used by a sales group.  It is a tool that can be used strategically by Mooney buyers.  It doesn't set the sales price for anything.  Add to that PPI, delivery and training are still required.

Sure it is imperfect data trying to organize an imperfect market.  What else is there that comes close to Shrobby's request for a Blue Book?

Best gears,

-a-

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Bravoman Mentor

Bravoman

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Anthony, you raise interesting points. I was an economics major in college and still find this kind of stuff fascinating. The more widgets you have of like kind the easier it is to determine a market price. With these planes, as you point out, the number of units is small, especially when you factor in the differences between the same model and year aircraft, i.e. hours, avionics and other pedigree. On the demand side, I hate to say it but I think the market continues to narrow and our planes appeal to us old farts more than the younger aviators who seem to like the cirrus type aircraft with joysticks and cockpits that look more like a BMW than what we came up with.

Regards, Frank

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